U.S. Existing-home Sales Hit Their Lowest Point Since 2010

WHO:

Bloomberg Markets - Would-be home buyers were deterred by negative news about mortgage rates and inflation.

Fast Company - Realtor.com Chief Economist Danielle Hale said the research highlights a major obstacle for homeowners who want to move.

Fast Company - Realtor.com Senior Economist Hannah Jones said lower mortgage rates alone would not erase the affordability gap.

WHAT:

Drudge Report - A linked headline described home sales as having “plummet[ed] to a 16-year low.”

Drudge Report - A related headline characterized sales as the “Worst Since ‘Great Recession’.”

Bloomberg Markets - Sales of previously owned U.S. homes fell to their lowest level since 2010.

NY Post - Home sales plunged to a 16-year low; the article described sales as being at their lowest since the late-2000s housing crash.

Fast Company - The average U.S. homeowner would pay $1,100 more per month to buy a median-priced home than existing mortgage holders pay, before property taxes and insurance, according to Realtor.com.

Fast Company - Average monthly home-buying costs rose from $1,332 to $2,468, an 85.3% increase. The comparison used a median-priced home, a 14.3% down payment and a 7.32% mortgage rate versus a 4% average rate on outstanding mortgages.

Fast Company - Realtor.com’s Danielle Hale said that even at a 6% mortgage rate, the typical payment would remain more than 60% higher; she said many families could not afford that increase.

Fast Company - In Portland, Maine, a typical current mortgage holder pays $1,270 monthly at 4%; buying a new home would cost an average of $3,392 monthly with 21% down, a 167% increase and the largest percentage increase nationally.

Fast Company - In greater San Jose, monthly mortgage costs rise from $2,659 for current holders to $7,039 for a new purchase, a 165% increase with a 26% down payment.

Fast Company - Los Angeles, Albany, Providence, Boise City and Worcester were also identified as cities where prospective movers would face more than doubled monthly payments.

Fast Company - Pittsburgh had the smallest percentage increase among the 100 largest U.S. metro areas: $1,005 monthly at a 4.1% rate for a typical current holder versus $1,441 for a new buyer, a 43% increase.

Fast Company - Baltimore, Buffalo, New Orleans, Detroit and Birmingham had payment increases below 60%.

Fast Company - Hannah Jones said slower home-price growth and rising incomes would also help narrow the gap between current payments and the cost of buying.

WHERE:

Bloomberg Markets - The reported home-sales decline was in the United States.

Fast Company - The mortgage-payment comparisons covered U.S. cities and metro areas, including Portland, Maine; greater San Jose; Los Angeles; Albany; Providence; Boise City; Worcester; Pittsburgh; Baltimore; Buffalo; New Orleans; Detroit; and Birmingham.

WHY:

Bloomberg Markets - Negative news about mortgage rates and inflation discouraged prospective buyers.

Fast Company - High mortgage rates and high home prices contributed to the affordability gap and discouraged existing homeowners from giving up lower-rate mortgages to move.

Fast Company - Realtor.com said lower rates alone would not erase the gap; slower home-price growth and rising incomes would also help.

(UPDATED November 12, 2026 18:01 UTC)

Sales of previously owned U.S. homes fell to their lowest level since 2010. High mortgage rates and home prices are discouraging buyers and homeowners considering a move. Typical buyers would pay about $1,100 more monthly than existing mortgage holders, before taxes and insurance.